Applied to perfectly competitive labor markets, the marginal principle tells firms to hire workers until

Name: Applied to perfectly competitive labor markets, the marginal principle tells firms to hire workers until
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In a perfectly competitive labor market, firms hire workers until the marginal revenue product (MRP) of the last worker hired equals the wage rate. This ensures that the cost of hiring an additional worker is exactly covered by the revenue generated by that worker, maximizing profit.

Applied to Perfectly Competitive Labor Markets, the Marginal Principle Tells